Can the National Budget FY14 handle the nine challenges?

The Centre for Policy Dialogue (CPD) highlighted the debate on nine issues at a dialogue on Analysis of the National Budget FY2013-14, held at the Lakeshore Hotel, Dhaka on 15 June 2013.

Dr Fahmida Khatun, Research Director, CPD presented the keynote titled Reflections on Nine Issues from the Post-Budget Debate. The nine questions she posited were:

• Is fall in private investment holding back economic growth?

• How credible are the revenue targets?

• Is the overstated foreign financing of fiscal deficit obscuring higher bank borrowing?

• How appropriate are the revealed allocative priorities in overall budget and ADP?

• Are fiscal measures supportive of social equity and domestic industrialisation?

• How credible is the subsidy estimate and what are its implications?

• Are social sectors being marginalised in the recent budgets?

• Does the pilot District Budget signal any qualitative change initiated to finance local government?

• Is emerging political situation the main obstacle to budget implementation?

As distinguished panellists, former Education Minister Dr Osman Farruk, also Member, Advisory Council to the BNP Chairperson and Dr Salehuddin Ahmed, Former Governor, Bangladesh Bank underpinned the challenges in implementing the budget for the incumbent and successive governments. Expressing optimism about achieving the target growth, panellist Mr Kazi Akram Uddin Ahmed, President, FBCCI pointed out the supportive measures for enterprises in the budget. Mr AHM Mustafa Kamal, MP, also Chairman, Parliamentary Standing Committee on Ministry of Finance highlighted the incumbent government’s achievements in different areas of economic growth and underscored some of the emerging challenges for the economy.

As discussants, Members of Parliament, business leaders, representatives from the civil society, academia and various political parties presented valuable thoughts and arguments which addressed the nine questions put forward by Dr Fahmida Khatun as well as beyond.

Professor Mustafizur Rahman, Executive Director, CPD delivered the welcome address and Chair of the event Professor Rehman Sobhan, Chairman, CPD made some introductory remarks and moderated the dialogue. The event was widely covered by print and electronic media.